Harvest Fund Management Co. Ltd Increases Stock Holdings in Morningstar, Inc. (NASDAQ:MORN)

Harvest Fund Management Co. Ltd grew its stake in Morningstar, Inc. (NASDAQ:MORN) by 137.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 423 shares of the business services provider’s stock after purchasing an additional 245 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Morningstar were worth $122,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC purchased a new stake in Morningstar in the 4th quarter valued at approximately $35,000. Fifth Third Bancorp grew its stake in Morningstar by 55.2% in the 3rd quarter. Fifth Third Bancorp now owns 194 shares of the business services provider’s stock valued at $45,000 after acquiring an additional 69 shares during the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Morningstar during the 3rd quarter worth approximately $48,000. CVA Family Office LLC acquired a new position in shares of Morningstar in the fourth quarter worth $65,000. Finally, CWM LLC lifted its position in shares of Morningstar by 42.7% in the third quarter. CWM LLC now owns 284 shares of the business services provider’s stock valued at $67,000 after acquiring an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 57.02% of the company’s stock.

Wall Street Analysts Forecast Growth

MORN has been the subject of several analyst reports. TheStreet raised shares of Morningstar from a “c” rating to a “b” rating in a research note on Friday, February 23rd. StockNews.com upgraded shares of Morningstar from a “hold” rating to a “buy” rating in a report on Thursday, February 29th.

Insider Buying and Selling

In other news, Director Steven N. Kaplan sold 1,250 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $306.81, for a total value of $383,512.50. Following the completion of the sale, the director now owns 44,427 shares in the company, valued at $13,630,647.87. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Morningstar news, Director Steven N. Kaplan sold 1,250 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $306.81, for a total value of $383,512.50. Following the transaction, the director now owns 44,427 shares in the company, valued at approximately $13,630,647.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Joseph D. Mansueto sold 1,297 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $307.69, for a total value of $399,073.93. Following the sale, the chairman now owns 10,775,526 shares of the company’s stock, valued at approximately $3,315,521,594.94. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,544 shares of company stock valued at $27,733,515. 39.90% of the stock is currently owned by corporate insiders.

Morningstar Price Performance

MORN stock opened at $287.46 on Friday. The stock has a market capitalization of $12.29 billion, a price-to-earnings ratio of 58.07 and a beta of 1.15. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.71. Morningstar, Inc. has a 52-week low of $163.28 and a 52-week high of $316.05. The stock’s fifty day simple moving average is $300.87 and its 200-day simple moving average is $279.89.

Morningstar (NASDAQ:MORN) last posted its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.73 EPS for the quarter. Morningstar had a return on equity of 22.28% and a net margin of 10.13%. The company had revenue of $542.80 million during the quarter.

Morningstar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th will be issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend is Thursday, April 4th. Morningstar’s payout ratio is currently 32.73%.

Morningstar Company Profile

Morningstar, Inc provides independent investment insights in the United States, Asia. Australia, Continental Europe, the United Kingdom, and internationally. The company operates in five segments: Morningstar Data and Analytics; PitchBook; Morningstar Wealth; Morningstar Credit; and Morningstar Retirement.